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American Tower Stock Hits New 52-Week High (AMT)

NEW YORK (
TheStreet) --
American Tower (NYSE:
AMT) hit a new 52-week high Wednesday as it is currently trading at $64.56, above its previous 52-week high of $64.55 with 344,096 shares traded as of 10:20 a.m. ET. Average volume has been 2.7 million shares over the past 30 days.

American Tower has a market cap of $24.86 billion and is part of the
technology sector and
telecommunications industry. Shares are up 5.9% year to date as of the close of trading on Tuesday.

American Tower Corporation, a real estate investment trust, operates as a wireless and broadcast communications infrastructure company. It develops, owns, and operates communications sites. The company has a P/E ratio of 63.8, equal to the average telecommunications industry P/E ratio and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates American Tower as a
buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance, growth in earnings per share, increase in net income and expanding profit margins. We feel these strengths outweigh the fact that the company has had generally poor debt management on most measures that we evaluated. You can view the full
American Tower Ratings Report.